It is the business that keeps the family going. A family that has been for long has now disintegrated.
The disharmony has led to the breakup. While the patriarch favoured one of his sons the others pulled away from the business. They did not go away without anything but took with them a considerable asset both in business form and also in value.
The shatter led to a disaster. The favoured son took the reins and set aside his aged father with the support of his mother. The business that was reputed and that earned high revenue turned a loss making one.
The banks extended no help and the outstandings which were very limited mounted in three fold with the interest accumulating. The industrial units were closed. The management had to pay lay off initially to the workers. The interest and wages mounted along with the other statutory obligations, such as Sales Tax, Provident Fund and Gratuity. The raw material suppliers queued in front of the office gheraoed the management and at last the curtains came down.
The patriarch passed away. A broken man, he was and died an unhonoured death. His favourite son did not realize his mistake. He went on in his own style and the prized property was auctioned.
The family which had once hundreds of acres of land, huge fixed deposits. a fleet of cars and palatial bungalows is now with a residual balance.
That be the
fate of the highly reputed business house in India.
The disharmony has led to the breakup. While the patriarch favoured one of his sons the others pulled away from the business. They did not go away without anything but took with them a considerable asset both in business form and also in value.
The shatter led to a disaster. The favoured son took the reins and set aside his aged father with the support of his mother. The business that was reputed and that earned high revenue turned a loss making one.
The banks extended no help and the outstandings which were very limited mounted in three fold with the interest accumulating. The industrial units were closed. The management had to pay lay off initially to the workers. The interest and wages mounted along with the other statutory obligations, such as Sales Tax, Provident Fund and Gratuity. The raw material suppliers queued in front of the office gheraoed the management and at last the curtains came down.
The patriarch passed away. A broken man, he was and died an unhonoured death. His favourite son did not realize his mistake. He went on in his own style and the prized property was auctioned.
The family which had once hundreds of acres of land, huge fixed deposits. a fleet of cars and palatial bungalows is now with a residual balance.
That be the
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